Business & Markets

Callahan Pipeline Completed in Northeast Florida

Affiliates of Chesapeake Utilities and TECO Peoples Gas have completed the 27-mile Callahan Intrastate pipeline, underpinning natural gas service expansion in two Florida counties.

DAPL's Future Uncertain as Biden Presidency Looms

The election of Democrat Joseph Biden could create more headaches for the Dakota Access Pipeline's (DAPL) owners, who are already embroiled in legal battles to keep the main conduit for flowing oil out of North Dakota running.

WhiteWater, MPLX Substantially Complete Agua Blanca Expansion

WhiteWater Midstream and MPLX announced the substantial completion of their Agua Blanca pipeline system expansion, which is expected to be in full service in early 2021.

Energy Transfer Sues North Dakota for Return of Documents

Dakota Access Pipeline developer Energy Transfer is suing for the return of thousands of documents held by North Dakota, saying the disclosure of those records could present a security risk.

Brent touches $45 on Vaccine Hopes and Storage Drawdown

Global oil benchmark Brent rose on Wednesday, briefly touching a more than two-month high above $45 a barrel on hopes of a COVID-19 vaccine and U.S. crude storage drawdowns.

Banks Make Room for Fossil Fuels in Climate Pledge

The world's public development banks pledged to align with the Paris Agreement on climate change, but avoided a firm commitment to phase out fossil fuel financing.

Tanker Traffic to Venezuela Suggests Oil Export Rebound

At least 18 oil tankers are expected to load oil for export from Venezuela in the coming weeks, according to tracking data and internal documents from state-run PDVSA, in a sign the sanctioned OPEC nation's crude exports may rebound this month.

Iran Says it Exports 700,000 bpd of Oil, Later Denies

An Iranian official said Tehran exported up to 700,000 bpd of oil since March, but an Iranian news agency later quoted him as casting doubt on the figure, which had been kept secret as the country fights U.S. sanctions.

Nord Stream 2 Sanctions Included in U.S. Defense Bill

Sanctions that could hinder one of Moscow's most important projects in Europe, the Nord Stream 2 natural gas pipeline, have been included in the annual U.S. defense policy bill, two congressional aides said on Wednesday.

Firm Led by Former Alaska Governor Seeks to Take over LNG Project

Former Alaska Governor Bill Walker said this week he is a founding member of a firm that wants to take over the state's Alaska LNG export project and complete it by March 2028.

Russia's Gazprom Proposes Gas Price Rise for Poland

Poland's dominant gas company PGNiG said its biggest supplier, Russia's Gazprom , had proposed increasing prices for its gas in an existing long-term delivery deal, at a time of heightened tensions between Moscow and Warsaw.

Successful Vaccine Would Boost Oil Consumption, But Not for 6-12 Months

Coronavirus vaccines are expected to boost international passenger transportation and oil consumption, but futures prices suggest the first significant impact will not be felt until well into the second half of 2021.

Ecuador Crude Output Reduced by Pipeline Ruptures, Budget Cuts

Ecuador expects its crude output to end 2020 "significantly" below initial expectations due to budget cuts at state oil companies and the rupture of two key pipelines earlier this year, Energy Minister Rene Ortiz said.

Oil Demand Likely to Take at Least a Year to Hit 2019 Levels - Gunvor Head

Global demand for oil is running about 5-6 MMbpd below pre-coronavirus crisis levels, and OPEC with its allies is likely to prolong its existing cuts, the head of trading house Gunvor said on Monday.

Energy Leaders Leave Door Open to More Cuts as Virus Spikes

Saudi Arabia's energy minister said Monday that global energy producers have the ability to tweak an agreement on production cuts that could be extended through the end of 2022, signaling the anticipation of continued weakened demand for oil as the coronavirus pandemic peaks again in Europe and the United States

Plans for LNG Terminal at German Port Being Reconsidered

A German company said it is re-evaluating plans for a liquefied natural gas terminal in the North Sea port of Wilhelmshaven after failing to receive sufficient commitments from potential customers.

Oil Jumps on Vaccine Hopes, OPEC+ Supply Signals

Oil jumped by almost 10% on Monday for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal could be adjusted to balance the market.

China Oil Imports Probably Weaker than Data Suggests

China's imports of crude oil slipped as expected in October, but while a 12.2% drop appears significant, the actual state of demand was probably even weaker.

Rolling Back Trump's Rollbacks: Biden Seen Reversing Climate Deregulation

Joe Biden could erase much of President Donald Trump’s four-year legacy of energy and climate deregulation with the stroke of his pen, according to regulatory experts, but replacing it with something new and durable may prove trickier.

Oil Pipeline Catches Fire in Western Siberia

A pipeline at an oilfield operated by a subsidiary of Gazpromneft, the oil arm of Russian gas producer Gazprom, burst and caught fire early on Saturday.

Italy's Snam Takes First Steps into India with Hydrogen, Gas Deals

Italian gas group Snam has taken its first steps into India by signing a series of deals involving hydrogen and low-carbon mobility projects, the company said.

Oil Steady as U.S. Election Uncertainty Dominates Markets

Oil prices were largely steady on Thursday as Democrat Joe Biden edged closer to the White House in a close U.S. presidential election, though doubts remain over further huge stimulus to bolster the economy in the face of the coronavirus crisis.

Azerbaijan to Proceed with Gas Pipeline Extension, Despite War

Azerbaijan will press ahead with plans to feed natural gas into an extended pipeline network to southern Europe, a senior official said, even as conflict rages for a sixth week in the enclave of Nagorno-Karabakh.

Favoring Gas, Philippines Shuts Door on Coal Power Proposals

The Philippines has stopped accepting new proposals for coal-based power projects to encourage investment in other energy sources like natural gas and renewables, the government's energy chief said on Wednesday.

Coronavirus Surge Throws Oil Recovery into Reverse

Oil futures prices have started to signal OPEC+ may have to do more to offset a second wave of coronavirus and a renewed economic slowdown.

Republicans Retain Tight Grip over Texas Oil and Gas Regulator

A Texas Republican businessman swept to victory in the Texas Railroad Commission over a Democratic energy lawyer who had sought to put climate change on the state energy regulator's agenda.

China to Step Up E&P, Pipeline Construction

China said it plans to step up its exploration of oil and gas, and speed up the construction of oil and gas pipelines and storage facilities, according to the official Xinhua News Agency.

Gazprom Files Appeal in Poland Against Hefty Nord Stream 2 Fine

Gazprom filed an appeal in a court in Poland on Wednesday to challenge a hefty fine imposed on it for its part in the Nord Stream 2 pipeline, the Russian gas producer said.

Oil Rises 2% but Traders Brace for Wild Ride After U.S. Election

Oil prices rose near 2% on Tuesday, advancing with other financial markets on U.S. Election Day, although traders were bracing for volatility depending on the voting results and as surging coronavirus cases around the world fed worries about fuel demand.

French Power Utility Engie Pulls Out of U.S. LNG Deal

French gas and power utility Engie has pulled out of a major U.S. LNG import deal after government concerns about its environmental implications.